Ekiti lifts embargo on Ecobank, GTbank, Zenith Bank


Ekiti State Governor, Dr Kayode Fayemi, has lifted the embargo placed on three banks by the immediate past administration led by Ayodele Fayose.

The Fayose-led administration had in May 2016 placed a “non-patronage” ban on the three banks- Ecobank, GTbank and Zenith Bank Plc and forbade government Ministries, Departments and Agencies, as well as workers from transacting business with them.

Governor Fayemi in quashing the directive on the embargo, earlier in the month, also directed that all MDAs should resume patronage of the banks immediately.

Consequently, the office of the State’s Accountant General had issued a memo to all heads of MDAs to give effect to the governor’s directive lifting the ban.

According to a statement by the Chief Press Secretary to the Governor, Mr Yinka Oyebode, the embargo was lifted in a bid to rekindle and strengthen the age- long relationship between the affected banks and the state government.

The statement added that the government took the decision after a careful review of the developments that led to the purported embargo by the immediate past administration.

“The Fayemi administration is committed to the infrastructural and industrial development of the state. In achieving this, it will create a conducive atmosphere for business to thrive in the state by partnering with the private sector and encouraging private initiatives, among others,” the statement added. – Punch

– Dec. 10, 2018 @ 7:59 GMT |

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